This analysis is an update of the analysis you see in the “Related publications” section
The previous analysis scenario has expired, and this update’s scenario is valid.
Given the time correction of recent waves and the absence of sharp drops, this scenario for RED is valid, and buyers’ footprints can be seen on the chart.
We expect a strong rejection to the upside from the green zone.
From the point where we placed the red arrow on the chart, it seems that RED’s correction has started, which appears to be either a diametric or a triangle.
Wave C itself has formed a diametric, and it is expected to end in the green zone, leading to a bullish wave D.
The closure of a daily candle below the invalidation level will invalidate this analysis.
For risk management, please don’t forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You